Japan Elevator Service : Notice Regarding Completion of Payment for Disposal of Treasury Shares as Restricted Stock Incentive Plan for Employee Shareholding Association

April 28, 2022

Company name: Representative:

Japan Elevator Service Holdings Co., Ltd. Katsushi Ishida,

Representative Director CEO

Contact:

(TSE Prime Market, Stock Code: 6544) Kimihiko Imamura,

TEL:

Director, Deputy President and Executive Officer, CFO [phone]

Notice Regarding Completion of Payment for Disposal of Treasury Shares as Restricted Stock

Incentive Plan for Employee Shareholding Association and Partial Forfeiture of Rights

Japan Elevator Service Holdings Co., Ltd. (the "Company") hereby announced that the payment with respect to the disposal of the Company's treasury shares as the Restricted Stock Incentive Plan for Employee Shareholding Association, that was resolved at the Board of Directors' meeting held on February 7, 2022, has been completed today as described below.

Please note that the initially scheduled number of shares subject to disposal and total amount of disposal have been changed due to a partial forfeiture of rights, and such amendments are also indicated below.

For details, please refer to the "Notice Regarding Disposal of Treasury Shares as Restricted Stock Incentive Plan for Employee Shareholding Association" dated February 7, 2022.

1.

Overview of disposal of the Company's treasury shares(changes are underlined)

After Amendment	Before Amendment
(1)Disposal Date	April 28, 2022	April 28, 2022
(2)Class and number of shares subject to disposal	7,450 shares of common shares of the Company	18,500 shares of common shares of the Company
(3)Disposal price	JPY 1,646 per share	JPY 1,646 per share
(4)Total amount disposal of	JPY 12,262,700	JPY 30,451,000
(5)Method of allotment (scheduled allottee)	Third party allotment (Japan Elevator Service Employee Shareholding Association:7,450 shares）	Third party allotment (Japan Elevator Service Employee Shareholding Association:18,500 shares）

2.

Grounds for amendment

The number of shares subject to disposal and total amount of disposal have been changed because the membership promotion to the Company's employees for joining the Employee Shareholding Association has ended and, among the members of the Employee Shareholding Association, the number of members who agree to the Restricted Stock Incentive Plan for Employee Shareholding Association has been fixed.

End